Cavco (CVCO) Q1 Earnings and Revenues Miss Estimates

Company Performance - Cavco reported quarterly earnings of $4.11 per share, missing the Zacks Consensus Estimate of $4.97 per share, and down from $5.29 per share a year ago, representing an earnings surprise of -17.30% [1] - The company posted revenues of $477.6 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 2.09%, and slightly up from $475.88 million year-over-year [2] - Over the last four quarters, Cavco has not surpassed consensus EPS estimates and has topped consensus revenue estimates only once [2] Stock Performance and Outlook - Cavco shares have increased approximately 19.6% since the beginning of the year, outperforming the S&P 500's gain of 15.8% [3] - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $5.35 for the coming quarter and $19.77 for the current fiscal year [7] Industry Context - The Building Products - Mobile Homes and RV Builders industry, to which Cavco belongs, is currently ranked in the bottom 4% of over 250 Zacks industries, indicating potential challenges ahead [8] - The performance of Cavco's stock may be influenced by the overall outlook for the industry, as research shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]